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Wade has until June 27 to inform the Bulls of his decision. After the season, sources said, Wade told the Bulls he had no interest in being part of a rebuilding situation if they chose to deconstruct a team that gave the Boston Celtics a strong challenge in the first round of the playoffs this year.

On Monday, ESPN's Marc Stein reported that the Bulls have been in contact with the Cleveland Cavaliers about trades involving All-Star swingman Jimmy Butler.

Dwyane Wade has until June 27 to inform the Bulls of whether he'll pick up his $24 million player option. Jason Miller/Getty Images

While Wade is monitoring the situation with Butler and how the Bulls approach this week's NBA draft, sources indicated that he's leaning toward picking up his player option regardless of what the Bulls do.

Wade, 35, has come to enjoy Chicago and playing in his hometown. He also is unlikely to command an annual salary in that range anywhere else, and after sacrificing to take less in Miami for several years, sources said Wade is unlikely to do so again in Chicago or elsewhere this season.